River North office building sells for $8.1 million

A group of New Jersey investors paid $8.1 million for a fully leased 40,000-square-foot loft office building in River North, according to a person familiar with the transaction. The group from Rochelle Park, N.J., bought the property at 153-157 W. Ohio St. from a venture that includes executives at Leo J. Shapiro & Associates Inc., a public opinion research firm based in the building, Cook County property records show. The sellers bought the building eight years ago from a land trust for $5.2 million, according to the records. River North loft office buildings are “proven to attract national buyer demand,” given the neighborhood's status as a key destination for tech and creative-industry firms, said Stephen Lieberman, senior associate in the downtown office of Marcus & Millichap Inc. who brokered the deal for the sellers. Messages left for the buyer and seller weren't returned.

Plan Commission to consider Gold Coast apartment projects

The Chicago Plan Commission is scheduled to vote Nov. 20 on two mixed-use development proposals in the Gold Coast. The commission is set to consider a plan by Chicago-based Fifield Cos. for a 35-story, 390-unit apartment tower with a Jewel-Osco at the northwest corner of Clark and Division streets, according to Steve Fifield, head of his namesake firm. The panel also plans to take up a proposal by a venture of Structured Management Midwest LLC for an apartment project with as many as 98 units on the northeast corner of the intersection, Mr. Fifield added. Other projects on the agenda include a proposed warehouse near McKinley Park and a new office building near O'Hare International Airport.

Ross Dress for Less coming to Palatine

Ross Stores Inc. is bringing a Ross Dress for Less to Deer Grove Centre, a 236,173-square-foot shopping center in Palatine, according to a lease filed with the Cook County Recorder. Dublin, Calif.-based Ross signed a 10-year lease with a unit of Ramco-Gershenson Properties Trust, which owns the property at 605-761 E. Dundee Road, according to the lease. The store will cover 25,000 square feet, according to real estate data provider CoStar Group Inc. Ross and Ramco-Gershenson didn't return messages. The retailer, which focuses on low-priced apparel, is represented in the Chicago area by Oakbrook Terrace-based brokerage Mid-America Real Estate Corp.